Certain Class B Ordinary Shares of Tian Ruixiang Holdings Ltd are subject to a Lock-Up Agreement Ending on 26-JUL-2021. These Class B Ordinary Shares will be under lockup for 181 days starting from 26-JAN-2021 to 26-JUL-2021. Details: All of the executive officers and directors and current shareholders, have entered into lock-up agreements with the Underwriter. Under these agreements, each of these persons may not, without the prior written approval of the Underwriter, offer, sell, contract to sell or otherwise dispose of or hedge shares or securities convertible into or exchangeable for shares, subject to certain exceptions. These restrictions will be in effect for a period of up to one hundred and eighty (180) days after the declaration of the effective of this offering.